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OLF: Investor Conference Webinar about Olainfarm’s recent developments

Spekuliantai.lt | 2013-05-16 | NASDAQ OMX biržų naujienos | perskaitė: 1312
Raktiniai žodžiai: Olainfarm, OLF
OLF: Investor Conference Webinar about Olainfarm’s recent developments

Olainfarm Company Announcement 16.05.2013

Investor Conference Webinar about Olainfarm’s recent developments

Olaine, 2013-05-16 08:45 CEST (GLOBE NEWSWIRE) -- On May 15 AS „Olainfarm”
organized its Investor Conference Online Webinar for investors to inform about
the company’s recent developments.

During the webinar the member of the management board of AS „Olainfarm” Salvis
Lapiņš informed that Olainfarm’s invesment program will reach around 26 million
lats in fixed assets over the next 5 years. Part of the sum will be co-funded
by the European Union funds and other sources. About 14 million lats are
planned for Final dosage forms, chemical production and will allow to introduce
some new products, while 7 million lats are planned to be invested in increase
of company’s energy and environmental efficiency.

Also, Salvis Lapiņš informed that in nearest time the export to Ukraine will be
started again, which was temporary stopped due to overshipment.

Answering the questions sent in by the investors, Salvis Lapiņš confirmed that
Olainfarm is planning to acquire another 20% of SIA “Silvanols” shares in
nearest weeks. Once it is done Olainfarm in total will own almost 70% of
Silvanols shares, thus becoming a majority shareholder.

According to Salvis Lapiņš, currently Silvanols capacity is used for about one
third, so there are improvements possible.

Also, according to Salvis Lapiņš one of the short term priorities of Olainfarm
and a market to focus on is Albania. Company forecasts a significant increase
of its sales to Albania. Olainfarm has also succeeded in strengthening its
presence in the Lithuanian market and for future markets company is looking at
Turkey, South East Asia and other countries.

The recorded “Olainfarm” webinar is available online:
http://ej.uz/OLF2013ieraksts, and the presentation, demonstrated during the
webinar, can be found in the previously published AS “Olainfarm” announcement:
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=557
283&messageId=687539.



Olainfarm thanks all participants, who joined the webinar, and encourages
everybody to follow company’s announcements to get information on the next
webinar!



A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40
years of experience in production of medication and chemical and pharmaceutical
products. A basic principle of company's operations is to produce reliable and
effective top quality products for Latvia and the rest of the world. Products
made by the Group are being exported to more than 30 countries of the world,
including the Baltics, Russia, other CIS, Europe, Asia, North America and
Australia.


Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: [email protected]

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